|
|
|
|
||||
|
||||
Are Elite Universities Losing Their Competitive Edge?E. Han KimUniversity of Michigan - Stephen M. Ross School of Business Adair MorseUniversity of California, Berkeley - Haas School of Business; University of Chicago - Booth School of Business Luigi ZingalesUniversity of Chicago Booth School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR); University of Chicago - Polsky Center for Entrepreneurship; European Corporate Governance Institute (ECGI) April 2006 CRSP Working Paper No. 609 Ross School of Business Paper No. 1046 Abstract: We study the location-specific component in research productivity of economics and finance faculty who have ever been affiliated with the top 25 universities in the last three decades. We find that there was a positive effect of being affiliated with an elite university in the 1970s; this effect weakened in the 1980s and disappeared in the 1990s. We decompose this university fixed effect and find that its decline is due to the reduced importance of physical access to productive research colleagues. We also find that salaries increased the most where the estimated externality dropped the most, consistent with the hypothesis that the de-localization of this externality makes it more difficult for universities to appropriate any rent. Our results shed some light on the potential effects of the internet revolution on knowledge-based industries.
Number of Pages in PDF File: 71 Keywords: Faculty productivity, firm boundaries, knowledge-based industries, theory of the fir JEL Classification: D85, I23, J24, J31, J62, L23, L31, O33 working papers seriesDate posted: May 10, 2006Suggested CitationContact Information
|
|
|||||||||||||||||||||||||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo6 in 0.547 seconds
